Business Description
Commercial Metals Company (CMC) is an international enterprise specializing in the production, recycling, and fabrication of steel and metal products, along with providing related services. The company serves markets across the United States, Poland, China, and other international regions. A significant facet of its business involves processing and marketing a wide array of ferrous and non-ferrous scrap metals. These raw materials are supplied to a diverse clientele, including steel mills, foundries, aluminum sheet and ingot producers, brass and bronze ingot makers, copper refineries, secondary lead smelters, specialty steel manufacturers, and high-temperature alloy fabricators. Commercial Metals Company manufactures and distributes a comprehensive range of finished long steel products. These encompass reinforcing bars (rebar), merchant bars, light structural sections, and various other specialized profiles. It also provides semi-finished billets intended for re-rolling and forging applications. Specializing in custom-fabricated steel products, the company's offerings are primarily utilized for concrete reinforcement. Such products are integral to the construction of a wide array of structures, from commercial and residential buildings, healthcare facilities, and convention centers to industrial and power plants, highways, bridges, and expansive public venues like arenas, stadiums, and dams. Beyond its fabrication activities, CMC supplies construction-related equipment and products, both for sale and rent, catering to concrete installers and other commercial enterprises. Additionally, the firm produces niche items such as robust strength bars for the truck trailer industry, specialized bar steels engineered for the energy market, and armor plates designated for military vehicles. These diverse metal solutions, including various rebar forms, merchant bars, wire rods, fabricated meshes, and pre-assembled rebar cages, reach a broad customer base encompassing fabricators, manufacturers, distributors, and construction firms. Founded in 1915, Commercial Metals Company maintains its corporate headquarters in Irving, Texas.
Business History
Revenue & Net Income Trend
| Period | Revenue | Net Income | Net Margin | YoY/QoQ |
|---|
Key Metrics
EPS (Diluted): 0.75
Total Equity: $4.19B
Shares: 114,086,750
Total Debt: $1.35B
Cash: $1.04B
EBITDA: $438.92M
Total Debt: $1.35B
Cash: $1.04B
Revenue: $7.80B
Revenue: $7.80B
Revenue: $7.80B
Total Equity: $4.19B
Tax Rate: 21.3%
Equity: $4.19B
Total Debt: $1.35B
Cash: $1.04B
Current Liabilities: $1.26B
Long-Term Debt: $1.31B
Total Debt: $1.35B
Total Equity: $4.19B
Shares: 114,086,750
Shares: 114,086,750
CapEx: -$402.82M
Shares: 114,086,750
Stock Price: $71.53
Net Income: $84.66M
Industry Benchmarks
Deep Analysis
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Income Statement (Annual)
Last updated: Jun 21, 2026 6:56pm (5d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $6.7B | $8.9B | $8.8B | $7.9B | $7.8B |
| Cost of Revenue | $5.6B | $7.1B | $7.0B | $6.6B | $6.6B |
| Gross Profit | $1.1B | $1.9B | $1.8B | $1.4B | $1.2B |
| Operating Expenses | $505.1M | $545.0M | $643.5M | $665.1M | $700.2M |
| Operating Income | $600.7M | $1.3B | $1.2B | $693.6M | $519.9M |
| Net Income | $412.9M | $1.2B | $859.8M | $485.5M | $84.7M |
| EBITDA | $753.5M | $1.7B | $1.4B | $963.9M | $438.9M |
| EPS | $3.43 | $10.09 | $7.34 | $4.19 | $0.75 |
| EPS (Diluted) | — | — | — | — | — |
Balance Sheet (Annual)
Last updated: Jun 21, 2026 6:56pm (5d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Cash & Equivalents | $497.7M | $672.6M | $592.3M | $857.9M | $1.0B |
| Total Current Assets | $2.7B | $3.4B | $3.1B | $3.3B | $3.5B |
| Total Assets | $4.6B | $6.2B | $6.6B | $6.8B | $7.2B |
| Current Liabilities | $980.5M | $1.4B | $843.7M | $834.9M | $1.3B |
| Long-Term Debt | $1.0B | $1.1B | $1.1B | $1.2B | $1.3B |
| Total Liabilities | $2.3B | $3.0B | $2.5B | $2.5B | $3.0B |
| Total Equity | $2.3B | $3.3B | $4.1B | $4.3B | $4.2B |
| Retained Earnings | $2.2B | $3.3B | $4.1B | $4.5B | $4.5B |
Cash Flow (Annual)
Last updated: Jun 21, 2026 6:56pm (5d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Operating Cash Flow | $228.5M | $700.3M | $1.3B | $899.7M | $715.1M |
| Capital Expenditure | -$184.2M | -$450.0M | -$606.7M | -$324.3M | -$402.8M |
| Free Cash Flow | $44.3M | $250.3M | $737.4M | $575.4M | $312.2M |
| Acquisitions (net) | -$1.9M | -$552.4M | -$234.7M | $0 | $55.8M |
| Debt Repayment | — | — | — | — | — |
| Dividends Paid | — | — | — | — | — |
| Stock Buybacks | -$3.2M | -$171.3M | -$113.9M | -$190.5M | -$207.6M |
| Net Change in Cash | -$43.8M | $178.1M | -$83.5M | $263.8M | $186.3M |
Analyst Estimates (Annual)
Last updated: Jun 26, 2026 10:59am (22h ago)| Metric | 2026 | 2027 | 2028 | 2029 |
|---|---|---|---|---|
| Revenue |
$9.2B $8.9B – $9.3B
|
$9.9B $9.4B – $10.4B
|
$10.0B $10.0B – $10.0B
|
$7.8B $7.5B – $8.0B
|
| EBITDA |
$1.2B $1.1B – $1.2B
|
$1.3B $1.2B – $1.3B
|
$1.3B $1.3B – $1.3B
|
$999.5M $960.1M – $1.0B
|
| Net Income |
$730.9M $713.6M – $748.2M
|
$716.0M $686.2M – $855.3M
|
$605.9M $603.4M – $877.7M
|
$798.6M $757.7M – $831.5M
|
| EPS | — | — | — | — |
Growth Trends (YoY %)
Last updated: Jun 21, 2026 6:56pm (5d ago)| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Revenue Growth | +32.4% | -1.3% | -9.9% | -1.6% |
| Gross Profit Growth | +67.9% | -2.4% | -25.0% | -10.2% |
| Operating Income Growth | +118.3% | -10.9% | -40.6% | -25.0% |
| Net Income Growth | +194.8% | -29.4% | -43.5% | -82.6% |
| EBITDA Growth | +131.0% | -20.7% | -30.2% | -54.5% |
Dividend History (Last 20)
Last updated: Jun 21, 2026 6:56pm (5d ago)| Date | Dividend | Declaration | Record | Payment |
|---|---|---|---|---|
| 2026-04-06 | $0.20 | 2026-03-25 | 2026-04-06 | 2026-04-15 |
| 2026-01-16 | $0.18 | 2026-01-05 | 2026-01-19 | 2026-02-02 |
| 2025-10-30 | $0.18 | 2025-10-15 | 2025-10-30 | 2025-11-13 |
| 2025-06-30 | $0.18 | 2025-06-18 | 2025-06-30 | 2025-07-09 |
| 2025-03-31 | $0.18 | 2025-03-19 | 2025-03-31 | 2025-04-09 |
| 2025-01-16 | $0.18 | 2025-01-02 | 2025-01-16 | 2025-01-30 |
| 2024-10-31 | $0.18 | 2024-10-15 | 2024-10-31 | 2024-11-14 |
| 2024-07-01 | $0.18 | 2024-06-19 | 2024-07-01 | 2024-07-10 |
| 2024-03-28 | $0.18 | 2024-03-20 | 2024-04-01 | 2024-04-10 |
| 2024-01-17 | $0.16 | 2024-01-04 | 2024-01-18 | 2024-02-01 |
| 2023-10-25 | $0.16 | 2023-10-10 | 2023-10-26 | 2023-11-09 |
| 2023-06-30 | $0.16 | 2023-06-21 | 2023-07-03 | 2023-07-12 |
| 2023-03-31 | $0.16 | 2023-03-21 | 2023-04-03 | 2023-04-12 |
| 2023-01-18 | $0.16 | 2023-01-05 | 2023-01-19 | 2023-02-02 |
| 2022-10-26 | $0.16 | 2022-10-11 | 2022-10-27 | 2022-11-10 |
| 2022-06-28 | $0.14 | 2022-06-15 | 2022-06-29 | 2022-07-13 |
| 2022-03-29 | $0.14 | 2022-03-16 | 2022-03-30 | 2022-04-13 |
| 2022-01-19 | $0.14 | 2022-01-06 | 2022-01-20 | 2022-02-03 |
| 2021-10-26 | $0.14 | 2021-10-13 | 2021-10-27 | 2021-11-10 |
| 2021-06-29 | $0.12 | 2021-06-16 | 2021-06-30 | 2021-07-14 |
Narrative Economics
market-narrative step).